Nvidia and Intel partner to develop multiple generations of x86 products; Nvidia will buy $5B of Intel's stock at $23.28 per share, a ~5% stake; INTC jumps 25%+

Cats and Dogs, living together! — In a surprising announcement that finds two long-time rivals working together …

Tom's Hardware 2025-09-18 Paul Alcorn

Context & Ripple Effects

This marks a sharp change in a relationship whose earlier history included Intel considering, but ultimately rejecting, an acquisition of Nvidia; the companies are now tying capital to a multigeneration product effort. The planned investment was later completed through Nvidia's purchase of $5B in Intel shares.

The deal also became part of a broader re-rating of Intel: later coverage linked Intel's rally to prospective domestic chip work with Apple, including reported early-stage Apple manufacturing talks. That makes the partnership important as both a product alignment and a confidence signal.

First-order effects

Nvidia gains an approximately 5% financial interest in Intel while the two companies commit to jointly developing multiple generations of x86 products.
Intel receives a $5B equity investment at $23.28 per share and an immediate market-validation signal, reflected in its more than 25% share-price jump.

Second-order effects

The partnership gives system builders a stronger reason to evaluate x86-based designs paired with Nvidia technology, rather than treating Intel and Nvidia solely as independent component choices.
Intel's prospective customers and suppliers gain a clearer signal that its product roadmap has support from a leading AI-compute vendor; rivals must respond to a more closely aligned Intel-Nvidia offering.

Third-order effects

If multigeneration development produces deployable products, competitive boundaries between CPU and accelerator vendors may increasingly be managed through alliances and cross-holdings rather than standalone roadmaps.
The deal points to compute finance becoming a strategic tool for securing platform alignment; its lasting significance depends on whether the joint products win customer adoption, not on the equity purchase alone.

The trend: AI-era compute suppliers are combining heterogeneous product roadmaps with strategic capital ties to shape which hardware platforms customers adopt.

Discussion

@patrickmoorhead Patrick Moorhead on x
Huge deal between $NVDA and $INTC. NVIDIA and Intel announced a multi-generation collaboration across PC and datacenter and NVIDIA will invest $5B in Intel at $23.28 per share. The joint solution will be a tight coupling Intel x86 CPUs and NVIDIA RTX GPUs over NVLink for PCs [ima…
@patrickmoorhead Patrick Moorhead on x
Intel sources: “Intel foundry will be extensively involved in advanced packaging solutions for both the client and datacenter products announced in this partnership.”
@jukanlosreve Jukan on x
I also think that the Intel-NVIDIA collaboration won't have a major impact on TSMC. Most of NVIDIA's AI chips will still be manufactured at TSMC. $TSM
@mingchikuo @mingchikuo on x
Key Industry Takeaways from Nvidia's $5 Billion Investment in Intel 1. Partnership Could Define and Accelerate the AI PC Landscape For Nvidia, developing its own Windows-on-ARM processors carries high uncertainty; for Intel, establishing a competitive edge in GPUs is difficult.
@atrupar Aaron Rupar on x
Mike Pence: “State ownership of business is very common in China and Russia. Taking a percentage of the sales of Nvidia, taking a percentage of the stock of Intel is inconsistent with free market principles, and I think it's taken our country to a very perilous place and I think …
@netcapgirl Sophie on x
they should just let nvidia buy intel. who cares
@lipbutan1 Lip-Bu Tan on x
Excited to team up with my good friend Jensen to jointly develop multiple generations of custom data center and PC products! Our collaboration brings together the best of @Intel and @nvidia to benefit customers - and shows how vital x86 architecture and NVLink will be in [image]
@iancutress @iancutress on x
This is unexpected. Intel and NVIDIA to co-develop ➡️Consumer x86 with RTX chiplets ➡️Enterprise x86 with NVLink NVIDIA to also take a $5b stake in Intel, at $23.28 per share. This is 4.9% ownership. $INTC is up +33% before open. https://newsroom.intel.com/... Because chiplets ar…
@benbajarin Ben Bajarin on x
Monumental news for @Intel. My thoughts on what matters below. (I like these more than long tweets). - Should ensure 14A happes since said Intel products will be 14A in this deal. - While NVIDIA GPU still made at TSMC this is packaged at Intel so some foundry dollars. [image]
@benbajarin Ben Bajarin on x
This is good for the whole of the semi industry. Jensen doesn't do this deal if there is doubt on Intel product roadmap (validates process roadmap) and likely leads to other customers using IFS for process and packaging. NVIDIA is to Intel what MSFT was to Apple in 1997.
@markhachman Mark Hachman on x
What a day when you wake up to Intel and Nvidia joining forces. Blockbuster deal! https://www.pcworld.com/...
@metacriticcap @metacriticcap on x
$NVDA had lots of incentives to say they'd use Intel Foundry for something. NVIDIA, the company who used to double source between TSMC and SEC. But they didn't say that. They said they'll do lots of things with $INTC, but not that.
@theaustinlyons Austin Lyons on x
$NVDA to invest $5 billion in $INTC! Press conference at 10am Pacific. Intel will also make x86 SoCs with Nvidia RTX GPU chiplets for PCs and datacenter CPUs to connect with Nvidia accelerators via NVLink.
@mattzeitlin Matthew Zeitlin on x
Another way of looking at this is that NVIDIA, which is entirely dependent on the federal government to access certain large export markets, put $5bn into a partially government owned company [image]
@tomwarren Tom Warren on x
Nvidia is investing $5 billion into Intel to jointly develop PC and data center chips. The investment will see Intel help Nvidia build x86 chips that integrate RTX GPU chiplets. Full details 👇 https://www.theverge.com/...
@nvidianewsroom @nvidianewsroom on x
NEWS: @NVIDIA and @Intel to develop AI infrastructure and personal computing products. Read the announcement: https://nvidianews.nvidia.com/ ... [image]
@intelnews @intelnews on x
@Intel and @NVIDIA are teaming up to jointly develop multiple gens of custom data center and PC products, seamlessly connecting NVIDIA and Intel architectures to enable new breakthroughs for the industry. Learn more: https://newsroom.intel.com/... [image]
@tculpan Tim Culpan on x
Watch out: AMD will buy a stake in Intel, in a similar deal to what Nvidia just announced. Apple is may also consider buying a stake. For the chip designers, it makes sense. Not for the investment thesis, but as protection money.
@tculpan Tim Culpan on x
...yet Apple largely follows the same strategic thinking: keep the White House happy. Patrick McGee's Apple in China surely got attention in the administration, explaining what many in Washington already knew (but pretended not to) about Apple's role in strengthening the PRC
@hshaban Hamza Shaban on x
Nvidia will invest $5 billion in Intel to co-develop chips in a surprise move that props up an ailing rival, Bloomberg reports Intel is getting another financial boost after the US agreed to take a ~10% stake, and the White House said it won't force companies to buy from Intel [i…
@emilprotalinski Emil Protalinski on bluesky
This feels like when Microsoft saved Apple. [embedded post]
@kentindell Ken Tindell on bluesky
That's weird: normally you just get Intel to give you stock. [embedded post]
@jamesaltonsanders.com James Sanders on bluesky
There's a lot of interesting implications for this, including the future of Intel's Arc iGPU/dGPUs, and a potential route to market for Intel+NVIDIA SoCs powering handheld gaming PCs. — Likewise, NVIDIA & MediaTek were rumored to be pursuing an Arm SoC for Windows... wonder whe…
r/nvidia r on reddit
Nvidia and Intel announce jointly developed ‘Intel x86 RTX SOCs’ for PCs with Nvidia graphics, also custom Nvidia data center x86 processors — Nvidia buys $5 billion in Intel stock in seismic deal
r/pcgaming r on reddit
NVIDIA and Intel to Develop AI Infrastructure and Personal Computing Products
r/technology r on reddit
Nvidia and Intel announce jointly developed ‘Intel x86 RTX SOCs’ for PCs with Nvidia graphics, also custom Nvidia data center x86 processors, Nvidia buys $5 billion in Intel stock in seismic deal
r/hardware r on reddit
Nvidia and Intel announce jointly developed ‘Intel x86 RTX SOCs’ for PCs with Nvidia graphics, also custom Nvidia data center x86 processors — Nvidia buys $5 billion in Intel stock in seismic deal

Chronicles